In this blog post, we will discuss some of the latest online business ideas in Nigeria that you can use to make ₦400,000 per month.
These are all proven businesses that have been shown to be effective and profitable for many people.
The best part is that these new ideas are not complicated or difficult to start up!
1). Chatbot business
One of the latest online business ideas in Nigeria that can make you a lot of money is creating chatbots.
With the rise in popularity and use of chat, social media platforms such as Facebook Messenger, Telegram and WeChat have made it easy for companies to create chat programs to converse with customers directly via text or voice messaging.
If your company already has an existing customer base, this is a great way to offer them excellent customer service.
$13 billion of online purchases were made via Facebook Messenger alone in 2016.
This shows just how popular chatbots have become and the potential they hold for payment processing through platforms such as PayPal.
A chatbot business requires no special skills or education beyond what you learn on your own by going through tutorials available on Google and Youtube.
You can use pre-existing code from Github repositories that serve as templates for customizing your unique bot personality – everything else after that is easy peasy lemon squeezy!
If you want more details about setting up a chatbot using Node JS then check out blog post here.
2). Ecommerce platform
Online marketplaces are some of the latest online business ideas in Nigeria that you can take advantage of.
Ecommerce platforms such as Amazon, eBay, and Alibaba have made it easier than ever before for creative entrepreneurs to start their own eCommerce businesses in Nigeria without having to spend too much on expensive storefronts or retail space.
All you need is a product or service people are willing to buy!
With the rise in popularity of social media, especially Facebook groups, more sellers are using this platform to sell their products directly with little interference from third-party marketplaces so there is plenty of room for new players who want an easy way into e-commerce.
You don’t even need your own website – just create an account with one of these marketplaces then begin creating listings that allow potential buyers to purchase items directly from you.
You can even create your own group on Facebook for marketing purposes!
3). Network Marketing/Affiliate Marketing
The latest online business ideas in Nigeria also include affiliate marketing and network marketing.
These are newer types of businesses that allow anyone to get involved regardless of where they live or their educational background.
All it takes is some time, effort, and creativity then you are off to a great start with these two new ways to do business.
Network marketers use social media platforms such as Instagram, YouTube, Telegram, etc while affiliates market products through blogs and websites instead.
Both methods have proven effective at generating revenue, especially when combined together in what’s known as multi-level marketing (MLM).
4). Box subscription business
The latest online business ideas in Nigeria to hit our radar include subscription boxes.
Subscription box services have been around for a while now but in recent years they have exploded in popularity, especially with millennials who are more likely to spend money on experiences rather than physical products that may or may not see much use.
With this new business idea, you can buy wholesale beauty and grooming supplies at very low prices then package them up into monthly subscriptions which people can subscribe to through your website or eCommerce platform such as Shopify in Nigeria.
All of these items come from well-known manufacturers so there’s no need for buyers to worry about quality – it will be excellent across the board!
5). Ad management business
Another new business idea is ad management.
A lot has changed since the day when people used Google Adwords and other online advertising services because nowadays it can be quite expensive not only on a CPC basis but also per impression as well.
In fact, the average click-through rates have been dropping steadily over the last few years, which is why so many businesses are now turning to ad management services.
Advertising with this method of marketing will allow you to engage in more cost-effective means of reaching potential customers from different countries all at once.
The best part about utilizing these types of social media platforms as an advertiser is that your ads won’t get lost among those made by companies who spend tens or even hundreds of thousands each month
6). SEO business
SEO business is one of the most lucrative ways to earn money online in Nigeria in 2022!
With so many people switching from desktop computers to smartphones, it has never been more important for businesses who want an edge on the competition to have their websites optimized for mobile devices.
This means you can take advantage of all those potential clients looking for your products or services but are pressed for time and only have a few minutes here and there throughout each day that they could use.
This makes them perfect targets since they’re already searching out what you offer with very little effort needed by you!
And when done correctly, search engine optimization (or SEO) marketing campaigns will allow companies ranging from small mom-and-pop shops up to major corporations to get their names out to the public.
After all, what better way is there of getting noticed than by being one of the top results on Google for a business-related search?
The only problem is that it is not easy to get started with SEO – you have to understand how optimization works first and foremost before even attempting any type of campaign.
7). Webinar business
Webinars are continuing to take the business world by storm, so if you have a knack for teaching others and want to get paid handsomely for it then this could be an ideal opportunity.
Just create your own website or blog, then begin marketing yourself as an expert in whatever field you are most knowledgeable about.
People will pay good money just to learn from someone with experience – especially when they can do so without leaving their home.
8). Business coaching
As the old saying goes, ‘you get what you pay for’ – and this couldn’t be more accurate when it comes to getting certain types of work done.
For example;
If you need a website designed but don’t have much in terms of budget then chances are that your site won’t look nearly as polished or professional compared with one built by someone who charges higher prices.
The same can be said about any kind of business coaching service, especially when they come from seasoned veterans who understand how important their role is in helping others succeed.
9). Business consulting
Ensuring that every aspect of your company runs smoothly requires constant vigilance on behalf of its owner which usually results in many late nights spent at the office so why not let someone else deal with all the stress instead?
A business consultant can give you the tools to make informed decisions about growth strategies, finance matters, and even which new employees would be best suited for your company.
The only downside is that it usually comes at a much higher price than just hiring an in-house employee but when considering what is being provided then it is well worth any extra expenses!
As such, if you have enough experience in certain aspects of running a business, you can get started a business consultant in Nigeria.
10). Business plan
Writing a good business plan may seem like quite a daunting task, especially since there are so many things that need to be done beforehand in order to ensure success.
That said, if you have all of these bases covered properly from beginning to end, then your chances of seeing positive results will increase exponentially.
Even though starting up in this and age has become relatively easier with the Internet and all of the great tools available to make your life easier, it is still important that you build a proper plan in case anything should ever go wrong.
If you have a knack for how to draft an effective business plan, there is a lot of money to be made!
11). Accountant for hire
When starting up any kind of business or project then there are bound to be some complicated tax issues that need expert attention.
This is why hiring someone like an accountant can provide such a huge benefit since they are basically guaranteed to know what needs doing before even stepping into your office.
After all, taxes aren’t something that anyone wants to deal with on their own due to how much time could potentially be wasted trying to figure everything out when instead they could have been focusing on more lucrative ventures.
As such, many entrepreneurs turn to expert accountants to help. If you have accounting skills, this is your field.
Better part?
You can work from anywhere, making this one of the best latest online business ideas in Nigeria.
Let us look at one of my favorite and latest online business ideas in Nigeria; domain flipping!
12). Flipping domains
This type of business is considered to be one of the most profitable online businesses in Nigeria.
There are several ways in which this can be done, but it is important that you understand how to do this right, or else your money will go down the drain.
You should ask yourself if there is enough demand for domain names before you start investing.
While some domains might sell at a high price quickly, others could sit around unused and not generate any profit.
You have to know what domain name people would pay good money for so that you don’t waste time with ones that no one wants.
If someone has already purchased them before you get out there, then move on.
But if they are still available after doing research, these are things which are worth buying.
Next, you have to know when the best time is for flipping domains in Nigeria.
During the initial registration period of a domain name, many people are not aware that they can purchase it.
When this happens, prices tend to be very low which means there are lots of opportunities here if you do your research right.
You will find out what names are most often used in ads on certain websites so keep an eye out for these.
With all of this in mind, how much money could one make per month?
Well with careful planning and by making smart decisions about where to invest, you can make a lot of money with this business in Nigeria.
It could be the difference between being able to pay for your children’s education or not, so it is important that you take things seriously and invest your time accordingly.
Wrapping up latest online business ideas in Nigeria
The internet has made global commerce easier than ever before so there’s never been a better time to take advantage of these latest online business ideas.
It’s never too soon or late to start your own internet business!
Contrary to popular belief, starting an online business in Nigeria is no longer reserved for tech-savvy millennials who have degrees in computer science or engineering.
In fact, there are many recent trends that show how simple it is becoming for everyday people from all walks of life and backgrounds around the world with little experience to make money on their own using modern technology such as blockchain smart contracts, affiliate marketing, and eCommerce platforms.
All you need to do today is open up a Facebook account or create a free Gmail address then you’re ready to start!
With the rise of chatbots, sellers are now able to accept payments on their own terms without having to depend on third-party marketplaces.
This allows them more freedom in deciding how they want to run their business, especially when it comes to pricing and payment options.
All that is needed is some basic knowledge about Node JS which can be learned by anyone with little effort through online tutorials such as Google and Youtube.
Once you get this down and establish your bot personality, setting up an automated transaction system becomes an easy peasy lemon squeezy!